On Feb. 11, the Hrayr Maroukhian Foundation (HMF), with the financial support of the Friedrich Ebert-Stiftung (FES) of Germany, presented its research on monopolies and the effects on the domestic market of Armenia to over 70 economists, scholars, researchers, and representatives of relevant state bodies in Yerevan. In 2012, the HMF had invited a working group of experts to undertake this groundbreaking study, which included Ara Nranyan, former Member of Parliament and economist; Hayk Hovhanissyan, economist; and Arsen Petrosyan, economist.
Prior to the presentation of the study, “Monopolies in Armenia,” welcoming remarks were made by the director of the Hrayr Maroukhian Foundation, Maria Titizian; the regional director of the Friedrich-Ebert-Stiftung, Michael Weichart; and ARF Bureau member David Lokyan. The event was moderated by Artsvik Minasyan, a National Assembly member of the Republic of Armenia.
The HMF Working Group then presented its findings, which included a theoretical and practical analysis of monopolies in a global context; the current state of markets in Armenia; international best practices implemented to regulate monopolies; and the effect of domestic monopolies on the Armenian economy. They analyzed the activities of the Republic of Armenia’s State Commission for the Protection of Economic Competition (SCPEC) and made specific recommendations for the implementation of a model for tighter regulation of monopolies in the country.
The overriding premise of the study strived to illustrate that to achieve a competitive atmosphere in the country’s domestic market, which is essential for economic growth, Armenia must demonstrate the political will to ensure regulation and compliance for the management of monopolies.
To view the full electronic version of the study, in English, click here.